Edinburgh oil exploration and mobile communications group Pittencrieff Plc on Friday revealed its revised plans to demerge its US Specialised Mobile Radio communications business from its oil and gas business, and said that Pittencrieff Communications Inc, where it currently holds 54%, would get a London listing for the shares it plans to distribute to Plc […]
Edinburgh oil exploration and mobile communications group Pittencrieff Plc on Friday revealed its revised plans to demerge its US Specialised Mobile Radio communications business from its oil and gas business, and said that Pittencrieff Communications Inc, where it currently holds 54%, would get a London listing for the shares it plans to distribute to Plc holders. It is also staging a placing and open offer to raise UKP25m, but that is for the oil and gas business, to be named Pittencrieff Resources Plc. These proposals should maximise value for shareholders of Pittencrieff Plc and Pittencrieff Communications Inc, the company declared.
